Primo (PRMW) might move higher on growing optimism about its earnings prospects, which is reflected by its upgrade to a Zacks Rank #2 (Buy).
Primo Water stock was rising sharply Monday after the beverage manufacturer announced an agreement to merge with BlueTriton, the parent company of Poland Spring. Primo Water said in a press release that following the closure of the all-stock transaction the combined companies would generate $6.5 billion in annual revenue. Primo Water reported revenue of $1.77 billion in its fiscal year ended Dec. 30, 2023.
Primo (PRMW) has been upgraded to a Zacks Rank #2 (Buy), reflecting growing optimism about the company's earnings prospects. This might drive the stock higher in the near term.